SEC Discloses Hackers Penetrated EDGAR, Profited in Trading (usatoday.com)

Chris Woodyard, writing for USA Today: Hackers made their way into the Security and Exchange Commission's EDGAR electronic filing system last year, retrieving private data that appear to have resulted in "an illicit gain through trading," the agency said. It was only in August that the commission learned that hackers may have been able to use their illegal activities to make ill-gotten gains through market trading, said Chairman Jay Clayton in a lengthy statement posted on the SEC's website. EDGAR, which stands for Electronic Data Gathering Analysis and Retrieval, is considered critical to the SEC's operation and the ability of investors to see the electronic filings of companies and markets. The SEC says about 50 million documents are viewed through EDGAR on a typical day. It receives about 1.7 million filings a year.

Comments

Accountants

[fluffernutter]

This will just get worse and worse until organizations understand that technology is as important to their business plan as proper accounting, lawyers and paying shareholders. Up until now it seems to be an afterthought, glommed on and budgeted like office supplies.